Friday, 27 March 2015
Last updated 1 hour ago
Jul 20 2011 | 11:21am ET
Michael Cardillo, the former Galleon Group trader whose testimony helped sink a former colleague last month, will pay $68,520 to settle the Securities and Exchange Commission's lawsuit against him.
Cardillo, who pleaded guilty to securities fraud and conspiracy in January, had been cooperating with prosecutors secretly prior to his plea. While he agreed to testify against Galleon founder Raj Rajaratnam, he was not called as a witness in that trial, which ended in Rajaratnam's conviction on all counts. He did, however, testify against former Galleon trader Zvi Goffer, who was convicted last month alongside his brother and a third man, Michael Kimelman.
Cardillo's settlement covers the profits he made trading on insider information and penalties.
No sentencing date has been set for Cardillo in the criminal case.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…